Research Analysts Issue Forecasts for Dycom Industries, Inc.’s FY2022 Earnings (NYSE:DY)


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Dycom Industries, Inc. (NYSE:DY) – Equities researchers at DA Davidson dropped their FY2022 EPS estimates for shares of Dycom Industries in a note issued to investors on Wednesday, April 7th. DA Davidson analyst B. Thielman now expects that the construction company will post earnings per share of $2.15 for the year, down from their prior forecast of $2.44. DA Davidson also issued estimates for Dycom Industries’ FY2023 earnings at $4.03 EPS.

A number of other analysts have also issued reports on DY. Craig Hallum boosted their price target on shares of Dycom Industries from $72.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, March 4th. TheStreet upgraded shares of Dycom Industries from a “d+” rating to a “c-” rating in a research note on Tuesday, March 2nd. B. Riley upped their target price on shares of Dycom Industries from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, January 7th. They noted that the move was a valuation call. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $88.00 target price on shares of Dycom Industries in a research note on Wednesday, March 10th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Dycom Industries currently has a consensus rating of “Buy” and an average price target of $94.33.

Shares of NYSE:DY opened at $91.19 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.58. The firm has a market capitalization of $2.79 billion, a PE ratio of 111.21 and a beta of 1.62. The firm’s 50-day moving average is $87.50 and its two-hundred day moving average is $76.82. Dycom Industries has a 1 year low of $25.15 and a 1 year high of $101.16.

Dycom Industries (NYSE:DY) last posted its earnings results on Tuesday, March 2nd. The construction company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.11). The company had revenue of $750.60 million during the quarter, compared to analyst estimates of $724.67 million. Dycom Industries had a net margin of 0.86% and a return on equity of 8.77%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.23) EPS.

In other Dycom Industries news, COO Timothy R. Estes sold 51,969 shares of the stock in a transaction that occurred on Thursday, January 14th. The shares were sold at an average price of $86.01, for a total value of $4,469,853.69. Following the transaction, the chief operating officer now directly owns 152,900 shares in the company, valued at $13,150,929. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sharon Villaverde sold 1,560 shares of the stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $93.46, for a total value of $145,797.60. Following the completion of the sale, the chief accounting officer now directly owns 7,759 shares of the company’s stock, valued at $725,156.14. The disclosure for this sale can be found here. Insiders sold 57,145 shares of company stock worth $4,955,953 over the last quarter. 5.66% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of DY. SummerHaven Investment Management LLC acquired a new stake in shares of Dycom Industries during the fourth quarter worth $820,000. Hill City Capital LP acquired a new stake in shares of Dycom Industries during the fourth quarter worth $41,083,000. Peconic Partners LLC lifted its holdings in shares of Dycom Industries by 8,350.1% during the fourth quarter. Peconic Partners LLC now owns 507,005 shares of the construction company’s stock worth $38,289,000 after purchasing an additional 501,005 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Dycom Industries by 520.0% during the fourth quarter. Principal Financial Group Inc. now owns 595,564 shares of the construction company’s stock worth $44,977,000 after purchasing an additional 499,507 shares during the period. Finally, Norges Bank acquired a new stake in shares of Dycom Industries during the fourth quarter worth $23,399,000. 94.92% of the stock is owned by institutional investors and hedge funds.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services in the United States. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

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Earnings History and Estimates for Dycom Industries (NYSE:DY)

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